Word: ad
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Dates: during 1970-1979
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...well, a ransom fit for a queen. Not that Elizabeth II was exactly ad venturing for booty, but when Britain's monarch returned home last week from a three-week tour of six Persian Gulf states, she brought back an assortment of trinkets worth an estimated $2 million. Quite a haul, even for someone who is reputed to be the world's wealthiest woman...
Chrysler President Lee Iacocca repeatedly denies that he has been pirating former colleagues away from Ford, which sacked him in July. In fact, he makes his denials with all the sincere innocence of Captain Kidd. Last week, smiling broadly, he announced that the Kenyon & Eckhardt ad agency was quitting Ford after 34 years to take on the $120 million Chrysler account. It was the largest account switch in U.S. history...
...Chief Leo Kelmenson that Ford executives got the news less than an hour before the public did. K&E hand-delivered a letter resigning the $75 million account, which was roughly like kicking Ford out the door at 55 m.p.h. Meanwhile, Iacocca telephoned Chrysler's previous ad agencies-Young & Rubicam, BBDO and Ross Roy-to tell their bosses that they...
...addition, K&E got the right to put some of its employees on Chrysler's planning and marketing committees-an unusual coup for an ad agency. Except for some relatively minor scraps, K&E will handle all of Chrysler's advertising, a departure from the usual auto industry practice of having different agencies for different product lines. Says Kelmenson: "It's my dream of total involvement...
...ad hoc committee will be responsible for insuring that the assembly is truly a representative body," delegate Michael J.W. Rennock '81, said last night...